Divorcing in your 50s

Posted onSeptember 26, 2023

If you are getting divorced in your 50s then you need to consider some matters that are more relevant to you than someone who is divorcing in their 20s or 30s.

In this article, our family law solicitors look at what you need to think about if you are separating or getting divorced in your 50s.

Online and London Family Law Solicitors

For family law legal advice call the expert London family lawyers at OTS Solicitors on 0203 959 9123 or complete our online enquiry form.

Things to consider if you are divorcing in your 50s

Our family law solicitors have broken down the things you need to think about into 2 areas:

Children
Money

Divorcing in your 50s and children considerations

Your children may be toddlers or the ‘children’ may be nearing 30. Your children may be at university and expecting you to help fund their course or their planned gap year or Ph.D. Your adult children may still be living in the family home and showing no signs of planning to move out. You may already be a grandparent.

Every family situation is different and that is why it is best to speak to a family law solicitor about your circumstances and goals.

If your children are young then your first priority is likely to be sorting out the residence and contact arrangements. We can help you negotiate parenting arrangements or apply to the family court for a child arrangement order. You will also need advice about the financial settlement as your children’s needs for a house over their heads will be important. However, even if the children are not living with you full-time, the likelihood is that you will also need a house that is large enough to accommodate the children for contact visits.

If your children are adults, they are treated differently by the family court even though, in your mind, they are still your children and will always be. Whilst you may always feel a moral obligation to provide them with help and support, legally there is no requirement to do so. That can create tension and conflict when trying to reach a divorce financial settlement. For example:

Your ex-wife may be arguing that she needs to stay in the 5-bed family home because you have 4 adult children and none of them have left home because of the cost of renting. The court will not take their housing needs into account as they are adults. Therefore, the court might say it is reasonable to say that your wife could downsize and move to a smaller property
Your husband may say that he cannot afford to pay spousal maintenance because he is funding your eldest child’s Ph.D. course or is subsidising your youngest child because the child is on a low salary. As the children are adults your husband is not under a financial obligation to support the children. However, he is under an obligation to pay spousal maintenance if ordered to do so by the court
Your ex-partner may say that they want you to give each of your children money out of the family assets so the adult children can use the cash as deposits on homes for themselves. You may disagree and say that you think that you both need to divide the family assets equally so you each have enough to rehouse yourselves
Your spouse may have taken the separation very badly and may be influencing the adult children against you. This may affect your ability to attend your child’s wedding or family events. It may even be stopping you from enjoying contact with your grandchild. If necessary, a grandparent can apply to the family court for permission to apply for a child arrangement order so you can see your grandchild regularly

Money matters when divorcing in your 50s

When you get divorced in your 50s there are financial considerations, such as:

Is there enough equity in the family home or savings to allow you and your ex-spouse to both rehouse mortgage-free? If not, will either of you qualify for a mortgage? Will your age affect the length of the mortgage term and affect the monthly mortgage payments?
Will the divorce affect your retirement plans? If your pension is shared through the making of a pension sharing order, can you afford to make extra pension contributions to your pension to build your pension back up?
Will a divorce in your 50s affect your family business? For example, will you need to sell up or raise funds against the value of your shares in the business to fund a financial settlement to your husband or wife?
If you separate you should make sure you change your existing Will. If your husband or wife is appointed as an attorney in your Lasting Power of Attorney you may also want to appoint a new attorney
If you do not already have a financial advisor now may be the time to take specialist financial advice about your mortgage, savings, and pension options so you can minimise the impact of the divorce on your financial future

At OTS Solicitors our family lawyers have substantial experience of helping people who are going through a separation or divorce whilst in their 50s. We focus on pragmatic divorce and financial settlement legal advice so you can move on with your life as quickly as possible to make a new future for yourself.

Online and London Family Law Solicitors

For family law legal advice call the expert London family lawyers at OTS Solicitors on 0203 959 9123 or complete our online enquiry form.

What is a Wife Entitled to as her Divorce Financial Settlement

How to Choose a London Family Law Solicitor

How does the court divide assets on divorce? - OTS Solicitors